Oracle invoked force majeure over power delays at Jupiter, a Blue Owl campus for OpenAI in New Mexico, and the project is delayed a year, sources familiar with the deal said. Blue Owl says commitments are unchanged as lenders scrutinize AI financing.
Blue Owl has about $3 billion in equity invested in the project and earns a lower return during construction, with returns rising after completion; the delay pushes back the higher-return phase. Force majeure clauses can apply when events beyond a party's control make contractual obligations difficult to meet, and lawyers say they are increasingly common in data-center deals.
The notice is reverberating in discussions about other proposed data-center financings, including SB Energy's Ohio campus for OpenAI, a person close to its financing said. SB Energy delayed its IPO this week. Moody's projects AI-related capital spending by the six largest U.S. tech companies at around $1 trillion in 2027, raising lender concerns about whether markets can absorb issuance without wider pricing pressure or tighter terms. Data Center Watch counted at least 45 projects worth $68 billion facing community opposition in Q2 2026, after 75 projects worth about $130 billion were disrupted in Q1.
